Responsibility accounting reports for profit centers are normally in the form of income statements

Indicate whether the statement is true or false


True

Business

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Never specify the age of a person in business messages

Indicate whether the statement is true or false

Business

Actual cash value is equal to replacement cost minus depreciation

Indicate whether the statement is true or false.

Business

Savvy Sightseeing had beginning equity of $72,000; revenues of $90,000, expenses of $65,000, and dividends to stockholders of $9,000. There were no stockholder investments during the year. Calculate ending equity.

A. $25,000. B. $47,000. C. $88,000. D. $97,000. E. $38,000.

Business

A check is a special type of draft

Indicate whether the statement is true or false

Business